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The New York City crypto aficionado Patrick Hughes is looking to sell off his two restaurants in Manhattan for cryptocurrency.

New York Restaurant For Sale in Bitcoin

As reported from the New York Post, the restaurant owner has said that he is ready to accept Bitcoin or Ethereum as payment for selling his two highly popular restaurants in New York City. Scruffy Duffy and Hellcat Annie’s are in New York City in the Hell’s Kitchen locality. The owner has set up a signboard in his bar that says that the restaurant is up for sale for 25 BTC or 800 Ethereum, close to $1 Million.

The owner is all set to make history by selling off property for cryptocurrency in the United States. The fifty-year-old restaurateur said that the crypto is on fire and is a hot currency right now. He is an ardent fan of cryptocurrency, believing that “crypto is decentralized and global.” A lot of investors and business owners are fast diverting their investments and assets to cryptocurrency as the digital currency provides a safe hedge against inflation and devaluing the dollar.  He said, “The next crisis, you won’t have to run out and buy toilet paper; you can just use your dollars instead.”

During the global pandemic lockdown, the restaurant businesses have been impacted badly. Patrick said that shut down due to the Covid-19 Pandemic has impacted the restaurants and is the biggest reason for sale. They have cut down the staff by almost 90 percent and now only employees 5-6 people.

As Bitcoin price surged to its all-time high in 2021, fiat currencies are struggling badly.  Crypto adoption is on the rise in the service industry, as many bars and restaurants have started accepting Bitcoin payments. While the craze for Bitcoin is increasing, an exclusive BTC or ETH sale is the first of its kind for any restaurant in the United States. A crypto Users Dolowitz, said that “Seems like he’s lowering the number of buyers for himself,” as no one is committing to a BTC deal with a period of 30 days when Bitcoin is almost doubling every 30 days.

Disclaimer

The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.

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